Natasha has $1000 to open a checking account. She can maintain a monthly balance of $600. She also has a savings account at the
same bank. Her employer offers direct deposit and she plans to use online bill paying. She writes about eight checks per month. She currently uses the ATM machines at several different banks. Natasha sometimes overdraws her account. Natasha wants an account with the lowest fees. Which checking account would be best for Natasha?
Account A
Account B
Account C
Account D
Account A
Account B
Account C
Account D
2 answers:
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Answer: $320
Explanation:
The Profit as the question shows is the Total Revenue less the total cost.
Total Revenue.
This will be the amount of goods sold multiplied by the price they are sold at.
The monopolist maximises output where Marginal Revenue equals Marginal Cost which from the graph is 4 units.
The price they sell at is the intersection of this quantity with the demand curve which is at $120.
Total Revenue = Units Sold * Price
= 4 * 120
= $480
Total Cost
The total cost will be the average cost per unit multiplied by the number of units sold. The relevant average cost is the cost associated with the maximised out of 4 units which according to the graph is $40.
= Average cost * number of units
= 40 * 4
= $160
Profit = 480 - 160
= $320
